El Paso Kicks Off Sale of Exploration and Production Assets

Nov 9, 2011 1:05 pm ET

By Anupreeta Das and Ryan Dezember

El Paso Corp. has begun sending out financial information to potential buyers of its oil-and-gas exploration and production business, which could fetch as much as $10 billion, according to people familiar with the matter.

El Paso’s exploration and production assets, including shale and conventional oil and gas fields in Egypt, Brazil and the U.S., could be sold in parts or as a single unit, the people said. Potential buyers include a mix of private-equity firms and other oil-and-gas companies, they added.

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